What are the differences between an agent and a broker?

An agent and a broker both play important roles in business transactions and contracts in Washington. However, there are some key differences between the two. An agent is someone who has been authorized by another party to act on their behalf. This means the agent is allowed to handle financial transactions, make agreements, or conduct any other type of business on behalf of that party. Agents need to have the authority from the party they represent before they can legally act on their behalf. On the other hand, a broker is a person who specializes in finding parties who are interested in buying and selling goods or services. Brokers generally strive to facilitate deals and make sure both parties are satisfied with the outcome. This can include researching the market, negotiating prices, and offering contracts. Unlike agents, brokers do not need to be authorized by anyone to conduct business. In conclusion, the difference between an agent and a broker is that the agent is authorized to act on behalf of another party, while the broker is simply a facilitator who helps find buyers and sellers who are interested in buying or selling goods or services.

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